Kyle man pleads guilty to embezzling more than $3.2M from former employer
AUSTIN, Texas - A Kyle man pleaded guilty to embezzling more than $3.2 million from his former employer.
The backstory:
According to court documents, 34-year-old Mitchell David Slentz was in charge of accounting operations at Austin Freight Systems (AFS), overseeing all accounting activities, financial reporting and internal controls, including submitting requests to JPMorgan Chase Bank to make payments to AFS’s vendors.
Starting in October 2023, and continuing until at least March 2025, Slentz misappropriated money from AFS through 147 payments. He deposited about $3,277,937.35 into his personal bank accounts.
Using the stolen money, Slentz paid $25,000 in July 2024 and $33,887.83 in September 2024 for his student loan debt, court documents said.
Slentz also gambled extensively on an online gambling platform. He deposited and/or won more than $1 million through online gambling.
He was charged back in May.
On June 29, Slentz pleaded guilty to one count of wire fraud and one count of engaging in monetary transactions with criminally derived proceeds.
A judge will determine his sentencing.
The Source: Information from the United States Attorney’s Office — Western District of Texas